Lunnon Metals (ASX:LM8) defines new 400-metre gold target at Cooee Prospect, expanding exploration beyond Foster Belt

Lunnon Metals (ASX:LM8) Managing Director Edmund Ainscough shares insights into the company’s latest exploration success at the Cooee prospect.

Located in a newly defined belt, the Cooee Belt, beside the prospective Foster Gold Belt in the Kambalda St Ives gold camp, Cooee was revealed through assaying nickel focused drill holes.

The work confirmed shallow gold mineralisation along a 400-metre strike beneath 1920s surface workings, adding fresh momentum to the company’s discovery pipeline.

What makes the Cooee prospect stand out compared with your other gold targets?

Cooee is an odd one for sure, because it was effectively hiding in plain sight.

The team drilled several holes for nickel in 2022 and 2023 and, once we revisited the samples, the gold numbers were impossible to ignore.

Intercepts such as 2 metres at 20.24 grams per tonne gold and 4 metres at 11.14 grams per tonne gold at shallow depths, took us a bit by surprise.

“The site team are finding gold even when they are not, or rather were not, looking for it,” Edmund notes. “Recognising the highly prospective nature of the Cooee prospect is a big bonus and further strengthens the gold portfolio and starts to build momentum in the other belts and domains that the discovery team are identifying.”

How do the Cooee results compare with the Lady Herial discovery inside the Foster Gold Belt?

Lady Herial set a high bar for grade and speed to value and Cooee is showing similar promise.

We have quartz dominant lodes that dip south from vintage workings and the drilling is showing anomalous grades that appear to line up with what we see at surface.

“To date we have had an almost singular focus on the Foster Gold Belt, due to the success at Lady Herial that is translating quickly into very attractive financial outcomes,” Edmund explains. “Cooee sits in a parallel belt and gives our FY2026 discovery program great impetus to broaden the search and make it more aggressive, buoyed by what Lady Herial is promising to deliver over the next twelve months.”

Why is it important that this discovery came from historical nickel holes?

It shows the benefit of using every scrap of information on the ground.

By revisiting three of our own holes and nineteen older holes drilled by WMC and Gold Fields we have mapped more than 400 metres of prospective strike without spending new drilling capital.

To have access to that wealth of historical data is critical when there are so many opportunities in such a well endowed address like St Ives, it helps prioritise our resources moving forward.

What comes next for Cooee?

The prospect is already on our high priority list for FY2026 and we will start with detailed mapping and rock chip sampling, then step into targeted RC and diamond drilling to confirm geometry and continuity.

The plan is to replicate the disciplined approach that moved Lady Herial forward so quickly.

Is Cooee on ground fully controlled by Lunnon Metals?

Yes, all the Cooee ground is on granted mining leases where we hold one hundred percent of the mineral rights.

That means we control the timeline and we also have the chance to replicate the Lady Herial scenario and potentially benefit from nearby processing options such as Gold Fields’ Lefroy plant.

“The Company now sees Cooee as another highly prospective target, joining Hustler, Guiding Star and Koombana in the Foster Gold Belt as candidates to replicate the recent success at Lady Herial,” Edmund concludes.

Looking Ahead

Cooee demonstrates the power of combining legacy data with modern exploration insight.

High grade shallow intercepts now confirm a 400-metre gold system sitting in the middle of one of Australia’s most productive gold camps.

On granted mining leases and with ready access to infrastructure, Lunnon Metals is well placed to progress Cooee alongside Lady Herial in FY2026 and beyond, broadening its footprint and strengthening its position inside the St Ives gold camp.

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